What do others here think of a referral program for Root?
I was thinking something along the lines of community driven referral program.
Perhaps something like a bonus 50 Root for both the referrer and referee for anyone who encourages a friend to download the wallet and load it with at least 2000 Root and stake for at least 2 weeks.
Something like that, though those figures are off the top of my head.
Thoughts?
Anyone have any thoughts on this idea?
Is it too gimmicky?
I feel like it could be a great way to increase activity on this page and to increase the holders of Root.
We could also do a draw for everyone that takes part could go in the draw to win 1000 Root?
Or, if Bitsta wants to get involved we could even do a competition to win a share in Rootex or something??
I think it would be massively abused by people referring themselves (it's not like we can check ID) and after 2 weeks or so, we'd suffer the effects of a high percentage of people dumping all their coins, it would all depend on just what percentage of people became interested enough to hold onto their investment and keep staking it. I don't know how many we'd have to keep, 30% maybe? for it to be an overall gain for the network. I think the numbers you suggested are a bit too generous, people referring themselves would gain 10% which would allow them up to that margin for selling at a loss and still making a profit.
I'd rather any kind of benefit like that be paid in small sums over at least a couple of months, or longer (maybe 6 or 12), more like an introductory rate on PoS like you might get when opening a savings account.